// definition
Refinancing risk
Risk when maturing debt must be replaced
freshreviewed 1 day ago
Short definition
The risk of having to refinance maturing debt at a higher cost or facing difficulty raising the required funds. It depends on the amounts due, their timing and access to funding.
risk atlas
Knowledge map
Intuition
Shorter issuance can lower the initial cost while bringing the next funding need closer.
Related analyses
Primary sources
- DG Trésor, Trésor-Éco no. 297, January 2022Sections 2.1 and 2.2: smoothing redemptions and the cost-risk trade-off.
- OECD, Global Debt Report 2026Chapter 1: issuance maturities and refinancing risk.